Before watches were wound by twisting the stem, a key (like this one) was fitted to a gear at the back of the watch to wind the piece. Since it was necessary to carry the key with the watch, these keys often took fanciful forms and were used as decorative fobs on the watch chains alongside the watches. Now we wear the lovely old watch keys as pendants. 

This lovely gold sheeted watch key is set with chalcedony on one side and foiled amethyst on the other. The drum-style surround is engraved with a floral border. So very pretty. Circa 1840.

Details.....This watch key measures 1.21" long and 0.35" wide. In Very Good Antique condition. You should always expect some wear on vintage and antique jewels, we consider it a part of their charm.